VITAFOAM & VONO Obtain Court's Sanction over Merger; Trading on VONO to be Suspended

Proshare

Friday, March 18, 2016 6:05PM / NSE 

Vitafoam Nigeria Plc and Vono Products Plc have obtained Court’s Sanction of their Scheme of Merger effective Friday, 11 March 2016. The two companies had earlier secured their respective shareholders and SEC approval for this transaction. At the conclusion of the merger process, Vono Products Plc will be dissolved and de-listed from the Daily Official List of The Exchange.

Stakeholders are hereby notified that effective Monday, 21 March 2016; trading on the shares of Vono Products Plc will be suspended on the floor of The Exchange. Transactions on Vitafoam Nigeria Plc will however, continue as it will become the surviving entity from the merger of the two Companies.

This is in line with Rule 21.1: Suspension, Cancellation and Withdrawal of Listing, Rulebook of The Exchange, 2015 (Issuers’ Rules).

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